Power Corp. closes $200M preferred share financing

Executive Summary

• Power Corp. of Canada closed its issuance of 8 million Series I non‑cumulative first preferred shares at $25.00 per share, generating gross proceeds of $200 million.
• The shares carry a 5.65% dividend rate, are listed on the Toronto Stock Exchange under the symbol POW.PR.I, and were sold through a syndicate led by BMO Capital Markets, RBC Capital Markets and Scotiabank.
• Net proceeds will be allocated to general corporate purposes.

Key Details

• Offering size: 8 million preferred shares (Series I).
• Pricing: $25.00 per share; gross proceeds of $200 million.
• Dividend rate: 5.65% per annum, non‑cumulative, first‑preferred.
• Underwriters: Syndicate led by BMO Capital Markets, RBC Capital Markets, Scotiabank.
• Listing: Toronto Stock Exchange, ticker POW.PR.I.
• Use of proceeds: General corporate purposes (no specific project allocation disclosed).

Notable Quotes

(No executive quotes were provided in the release.)